Digital Transformation,Enterprise Cash Holdings and Asset Specificity
As an important driving force for a new round of industrial transformation,can the digital trans-formation of enterprises optimize the allocation of internal resources of enterprises?Based on the data from China's Shanghai and Shenzhen A-share listed companies in 2007-2020,this research adopts Python crawler technology to collect digital-related vocabulary as a metric for digital transformation,and empirical-ly analyzes the impact of enterprise digitalization on cash holding and asset specificity.The digital transfor-mation of enterprises is negatively correlated with cash holding and asset specificity,and there is a partial mediating effect in the relationship between the degree of digital transformation and cash holding&asset specificity.The effect of digital transformation on resource allocation will be affected by the nature of prop-erty rights,strategic differences,and commercial credit environment.
digital transformationresource allocationcash holdingsasset specificity
万方数据
维普
